Hi Guys,
ive got some money sitting in the bank doing nothing on a useless interest rate, its not a massive amount but id like to make it work better for me.
I have already go 2 properties, one that i live in and one that i rent, both have good equity. i have saved up again and want to buy another property as an investment. However when i bought my last house i had to put a large deposit down which i haven't got.
What is the best way to buy a property to rent out? I would like to put 15-20k down as a deposit. price range is 250-300k. My wages arent massive so based on the mortgage calculators i wont be able to borrow as much to be able to afford a 250-300k property.
Do i need to release equity on my current mortgage? not sure how it all works.
any property investors on here?
ive got some money sitting in the bank doing nothing on a useless interest rate, its not a massive amount but id like to make it work better for me.
I have already go 2 properties, one that i live in and one that i rent, both have good equity. i have saved up again and want to buy another property as an investment. However when i bought my last house i had to put a large deposit down which i haven't got.
What is the best way to buy a property to rent out? I would like to put 15-20k down as a deposit. price range is 250-300k. My wages arent massive so based on the mortgage calculators i wont be able to borrow as much to be able to afford a 250-300k property.
Do i need to release equity on my current mortgage? not sure how it all works.
any property investors on here?